Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

Teck Resources Ltd (USA) (NYSE:TCK) is having a strong day in the market today, and for good reason. Several analysts decided to weigh in on the stock yesterday. Today, we’ll talk about what the analysts had to offer, how the stock reacted to the news, and what we can expect to see from TCK ahead.

Kzenon/Shutterstock.com

Analysts Like What They See With TCK

As mentioned above, Teck Resources Ltd (USA) (NYSE:TCK) is having an incredibly strong day in the market today because several analysts have decided to weigh in on the stock. Of course, as you could imagine, the notes were positive. All three analysts have upgraded the stock. Here’s what we saw:

– Credit Suisse Group AG – Researchers at Credit Suisse Group AG started the trend yesterday morning. In the wee hours of the day, the analysts at Credit Suisse upgraded TCK. The rating has been moved from “neutral” to “outperform”.

– Bank of America Corp – Another big analyst weighed in early yesterday morning. That was Bank of America. The bank decided to begin coverage on the stock, rating it a “buy”.

– RBC Capital Markets – Finally, analysts at RBC Capital Markets also decided to throw their two cents into the fray. In their note, RBC Capital Markets upgraded TCK from a “sector perform” rating to an “outperform” rating.

How The Stock Reacted To The News

When we get started in the market, one of the first things that investors seem to notice is that the news causes movement. Positive news will lead to gains while negative news leads to losses. In the case of Teck Resources, the news was overwhelmingly positive. While one analyst upgrade will make investors happy, 3 upgrades in one day is downright exciting. As a result, we’re seeing gains in the value of TCK today. The stock is trading up by 3.65% this morning after a 3.8% gain yesterday.

What We Can Expect To See Moving Forward

Moving forward, I have a relatively mixed opinion of what we can expect to see from Teck Resources Ltd (USA) (NYSE:TCK). While analysts are obviously bullish, I never advise blindly following in the footsteps of these guys. The truth is that they make mistakes too. With that said, the positive side is simple. The stock has been on the uptrend since June of 2016, even in the face of a struggling commodities market. As they continue to produce, more and more investors are getting excited. However, with the risk of a Fed rate hike just around the corner, this could be a tough play to make. A rate hike could send commodity prices further down, leading to declines for TCK. So, while this is a strong play in the short run, the medium- to long-term view is a bit skewed by the idea that the Fed could raise its rate in December.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.

Subscribe me to Insider Monkey's Free Daily Newsletter

This is a FREE report from Insider Monkey. Credit Card is NOT required.

We may use your email to send marketing emails about our services. Click here to read our privacy policy.